Shires Smaller Co's - Holding in Company

RNS No 7238q
SHIRES SMALLER COMPANIES PLC

                    DEALINGS BY SUBSTANTIAL SHAREHOLDERS

1)  NAME OF COMPANY

SHIRES SMALLER COMPANIES PLC

2)  NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

LONDON AND MANCHESTER (PORTFOLIO MANAGMENT) LTD

3)  Please state whether notification indicates that it is in respect of holding
    of the Shareholder named in 2 above or in respect of a non-beneficial
    interest or in the case of an individual holder if it is a holding of that
    person's spouse or children under the age of 18

SHAREHOLDER NAMED IN 2 ABOVE

4)  Name of the registered holder(s) and, if more than one holder, the number of
    shares held by each of them.

LONDON & MANCHESTER ASSURANCE CO LTD    310,000
LONDON & MANCHESTER (PENSIONS) LTD      510,000
BANK OF SCOTLAND TRUSTEE OF 
LONDON & MANCHESTER (UNIT TRUSTS)       240,000

5)  Number of shares/amount of stock acquired.

168,077

6)  ( 0.09%) of issued Class

7)  Number of shares/amount of stock disposed

N/A

8)  ( N/A %) of issued Class

9)  Class of security

ORDINARY 50P SHARES

10) Date of transaction

26 JUNE 1997

11) Date company informed

30 JUNE 1997

12) Total holding following this notification

1,060,000

13) Total percentage holding of issued class following this notification

5.43%

14) Any additional information

N/A

15) Name of contact and telephone number for queries

FIONA McCLEAN
572 2705

16) Name and signature of authorised company official responsible for making
    this notification

    Date of Notification....30 JUNE 1997........


END